GlobalFoundries (NASDAQ:GFS)’s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Wednesday, TipRanks reports. They currently have a $87.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 36.36% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Credit Suisse Group boosted their price objective on shares of GlobalFoundries from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 1st. Raymond James started coverage on shares of GlobalFoundries in a research report on Monday, November 22nd. They set an “outperform” rating and a $80.00 price objective for the company. HSBC initiated coverage on shares of GlobalFoundries in a research note on Monday, November 22nd. They issued a “hold” rating and a $63.50 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of GlobalFoundries from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, December 1st. Finally, Cowen began coverage on shares of GlobalFoundries in a research note on Monday, November 22nd. They issued an “outperform” rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $80.77.
NASDAQ:GFS traded down $1.58 on Wednesday, hitting $63.80. The stock had a trading volume of 733,956 shares, compared to its average volume of 2,482,595. The firm’s fifty day simple moving average is $62.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 1.40. GlobalFoundries has a 1 year low of $44.48 and a 1 year high of $73.25.
GlobalFoundries (NASDAQ:GFS) last announced its quarterly earnings results on Tuesday, November 30th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. As a group, sell-side analysts forecast that GlobalFoundries will post -0.54 earnings per share for the current year.
GlobalFoundries Company Profile
GlobalFoundries Inc is a semiconductor manufacturer. It delivers feature-rich solutions which enable its customers to develop innovative products for pervasive chips. GlobalFoundries Inc is based in MALTA, N.Y.